Concern over impact of Brexit on imports at city manufacturing firms

Galway Bay fm newsroom:

A city councillor has questioned whether there is an opening for manufacturing plants in Galway to replace imports from the UK.

Councillor Noel Larkin made the comments following a presentation on the economic implications of Brexit at City Hall this week.

The presentation was delivered by Alan Ahearne of the Whitaker Institute at NUIG who said around 25% of good imports nationally come from the UK.

He added the overall exposure to Brexit varies by sector with the largest impact likely to be felt in food and agriculture, financial services and tourism.

The meeting heard Sterling has depreciated by around 20% against the euro since the referendum.

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